The Download: The EU's Economic Security Strategy

What does DIGITALEUROPE think?

Europe must have access to and be a creator of critical technologies.. Right now, Europe has very few standard-setting tech companies left: only 11% of the world top tech companies and only 8% of unicorns. This is a common problem we must address now.

We therefore need an approach to economic security founded on the competitiveness of Europe’s digital industries, working with likeminded international partners as much as possible. Europe should avoid the temptation to reach for too many protective tools and look instead to strengthen our greatest assets – our people and our single market. Innovation and incentives are needed to ensure technology companies stay and scale in Europe.

Each critical technology needs a tailored analysis on EU strengths and weaknesses. A one-size-fits-all approach cannot be the solution when addressing technologies with different opportunities & risks, and at different stages of development. The private sector must play an important role: industry leaders have the know-how and innovation potential.